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27.06.2007  
  The Annual General Shareholders Meeting was held at PSC “TAIF” today to summarize the Company’s results for 2006. The meeting was attended by Prime Minister of the Republic of Tatarstan Rustam Minnikhanov.

In 2006, TAIF GROUP focused on the large-scale projects of modernization of the oil and gas refinery complex. The activity of the TAIF GROUP companies in chemicals, petrochemicals, oil and gas refinery is aimed at absolute fulfilling the tasks set by the Government of Tatarstan and specified in the President’s Program of Chemicals, Petrochemicals, Oil and Gas Refinery Sector Development in the Republic of Tatarstan for 2004-2008 and the Decisions of the Security Council of the Republic of Tatarstan as of June 2005. In 2006, PSC “TAIF”, by a stated time, had completed the construction and commissioned a polypropylene plant with the capacity of 180 thousand tons per year at OJSC “Nizhnekamskneftekhim”, new high density polyethylene production facilities at OJSC “Kazanorgsintez” with annual output capacity of 510 thousand tons. New auto-petrol plant and gas condensate separation plant commissioned at OJSC “TAIF-NK”, together with the modernization of the existing crude oil processing complex, allow production of top-quality petrochemical products able to meet strong competition. Due to the improved products properties and the world market demand OJSC “TAIF-NK” today is one of the leading refineries in Russia.

In 2006, chemicals, petrochemicals, oil and gas refinery companies of TAIF GROUP provided over 38% of sales and over 16% of added value of the Tatarstan oil and gas refinery sector. The added value equaled 23% of revenues of the above companies.
TAIF GROUP reached considerable performance results in other business lines as well, i.e. investments and finance, telecommunications, building and construction, services, commerce and trade. The financial highlights trends reflect the TAIF CROUP strong market positions and the stable growing tendency of the GROUP’s economic potential. This, of course, improves the economic and social spheres of Tatarstan and, in the end, well-being of its people determining the main goal and the spirit of TAIF GROUP activities. In this way, sales revenue increased by 65% if compared to 2005 and reached RUR 140 bln. Net income made up RUR 13.1 bln. Capital investments (less VAT) exceeded RUR 22.7 bln, and the amount of taxes paid into budgets of all levels equaled almost RUR 9.4 bln.

The shareholders observed the results of the last year, approved the Annual Report, the financial statements including Income Statement and profit distribution according to the 2006-year results, elected the Board of Directors.
 

 

27, Shchapova Str.,
420012 Kazan, Republic of Tatarstan, Russia


Tel.: +7 (843) 277-94-02
Fax: +7 (843) 277-94-03
E-mail: bars@taif.ru